After months of real estate gloom and turmoil, Otago house prices are back where they were 12 months ago.
Another new year, another change for the New Zealand property market.
People struggling to afford property in Central Otago could soon get help, courtesy of a group set up to address the problem of high real estate prices.
The number of real estate agents in the South has plummeted by 20% in the past two years as the property market tightened and potential commissions disappeared.
The latest Southland District Council property valuations show the value of property in Southland has increased $5 billion in three years.
Queenstown's real estate market statistically had shown itself to have "generally corrected and stabilised", Real Estate Institute of New Zealand (REINZ) Queenstown media spokesman Adrian Snow said.
Looking to sell your house? Shane Gilchrist seeks some advice . . .
Auckland house prices edged up 1 percent last month from October to a 23-month high average of $550,217, real estate company Barfoot & Thompson says.
A tranche of commercial properties around the South Island has gone under the hammer in Dunedin, with all nine selling for a total $5.7 million.
The rumour mill is getting out of hand, Mark Thom says, after an alleged arson threat against his Fairfield property.
Real estate group First National is rubbishing talk of a property market "mini-boom".
Homes are selling briskly in Otago as house prices rise but the separate Central Otago market is bogged down and the slowest in New Zealand, latest figures show.
House prices rose 1.9 percent last month and the number of sales shot up 10%, based on the Real Estate Industry of New Zealand's (REINZ) recently introduced price index.
Central Otago and Queenstown house prices have taken a hammering - with properties losing more than a quarter of their value - despite the real estate market improving elsewhere in the country.